Unemployment hits 4-year highs upon decreasing domestic demand

ANKARA

DAILY NEWS Photo

Turkey’s unemployment rate increased to 10.7 percent in the November 2014 period, the highest since October 2010, the Turkish Statistical Institute (TÜİK) revealed Feb. 16.

Analysts said the rise was mainly caused by the decrease in domestic demand and the increase in labor force participation.

Non-agricultural unemployment was announced at 12.7 percent.

Some 3.1 million unemployed people aged 15 and over were recorded in October, November and December 2014.

The unemployment rate was 9.7 percent among men and 13 percent among women, according to TÜİK.
While the unemployment rate for the 15-24 age group was 19.9 percent, the rate for the 15-64 age group was 10.9 percent.

Meanwhile, the ratio of employed people working without social security related to their main job was 33.9 percent in November 2014, amounting to 81.7 percent in the agriculture sector and 22 percent in the non-agriculture sector.

The seasonally adjusted labor force participation rate was 51 percent, an increase of 0.1 percentage point. The highest increase for employed people by economic activity was seen in the services sector, which added 50,000 workers.